25 June 2014
Bank Muamalat Malaysia Bhd aims to increase total financing for small and medium enterprises (SMEs) to 40% in two years' time from 20% this year, said Chief Executive Officer, Datuk Mohd Redza Shah Abdul Wahid.
Mohd Redza said currently the bank, which gave out loans of between RM100 and RM200 million a year, aimed to undertake an aggressive promotion of its financing products, especially among business associations.
"Right now, the consumer sector is the key contributor to total financing of RM1.2 billion, or 80%," he said at the opening of the bank's Bureau de Change at klia2 today.
Mohd Redza said the Bureau de Change at klia2, the bank's first branch, was expected to handle 300 transactions a day during the first year of its operation.
"We aim to open two more branches at international airports by year-end," he said.
He said Bank Muamalat, which currently recorded 1.1% in loan defaults, aimed to reduce it to below one percent by end-2015.
Mohd Redza said the bank was also working closely with Majlis Amanah Rakyat to promote its products among Malay SME players. – Bernama, June 25, 2014.
Original Source: themalaysianinsider.com
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